Milford schools await state budget results

10:06 AM,
Jun. 28, 2013

Caudle

Written by

Roxanna Swift

Milford schools are expected to have a deficit by the end of Fiscal Year 2017 unless the district receives additional state funding.

Expenditures are expected to surpass revenues by about $2 million in Fiscal Year 2014, said Treasurer Debbie Caudle. Revenues are expected to continue trending lower than expenditures through the end of the district's five-year forecast. While a cash balance will carry the district over through most of the five years, the projected end-of-year cash balance for Fiscal Year 2017 is a deficit of about $5 million.